Webull Faces Class Action Lawsuit Over Alleged Misleading Disclosures

The lawsuit alleges that Webull misled shareholders by downplaying its dependency on mainland Chinese infrastructure and personnel. According to the complaint, the company claimed its primary operations were U.S.-based and that domestic customer data remained insulated from foreign access. However, the filing contends that Webull’s software development, core engineering, and data pipelines were structurally reliant on PRC-based resources subject to Chinese law.

These purported omissions allegedly left investors with a distorted view of the company’s independence and risk profile. When the details regarding these cross-border dependencies reached the market, shareholders reportedly suffered financial damages. The Rosen Law Firm, which has previously secured significant settlements in securities litigation, is now soliciting investors to serve as representatives in the ongoing case. No class has been certified yet, and investors retain the right to select their own counsel or remain absent members of the class.